Trump's campaign nearly went broke for the 2020 homestretch, insiders say
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Matt Turner
Oct 18, 2020, 22:01 IST
US President Donald Trump looks on as he departs a rally at Toledo Express Airport in Swanton, Ohio on September 21, 2020.MANDEL NGAN/AFP via Getty Images
There was big news in New York politics this week as Citigroup's vice chairman Raymond McGuire resigned to announce his candidacy for New York City mayor. Dakin Campbell spoke to those close to McGuire, along with political strategists, to get the inside story on McGuire's decision to run, and the biggest challenges he'll face. You can read that story in full here:
Trump's campaign nearly went broke for the 2020 homestretch
From Tom LoBianco:
Before his demotion this summer as President Donald Trump's campaign manager, Brad Parscale had planned for a stunning amount of money to arrive during the 2020 homestretch that would have covered equally shocking spending but left the reelection effort dead broke by the start of October, three Republicans close to the president's campaign told Insider.
Parscale had been banking on campaign donations to miraculously double in October by about $200 million more than other recent months, one Republican close to the president said. The Republican said Trump's new campaign team, led by Bill Stepien, had to rush to cancel the spending approved by Parscale to salvage the president's bid for a second term.
But money has been tight since then, leaving no less than the president himself to attempt to beat back stories that his campaign is on the rocks and float the idea, again, that he would open up his own checkbook to keep it running.
"A lot of your children and grandchildren do not respect your work," Giridharadas said on Monday to more than 3,000 directors watching the summit virtually, according to audio obtained by Business Insider.
Giridharadas slammed directors for their lack of action, portraying businesses as making empty promises while simultaneously dodging responsibility.
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"This being a group of corporate directors, I ask again, where were you?" Giridharadas said in his remarks. "Where were you in the run-up to the climate crisis? Where were you during widening inequality over the last four decades? Where were you in the run-up to the subprime crisis? Where were you in the run up to the opioid crisis? Where were you?"
The aggressive remarks shocked many of the hundreds of people virtually attending the summit, which is billed as the "the largest and most influential director forum in the world."
Tech is coming to eat the $200 billion management-consulting industry
From Samantha Stokes:
For decades, prestigious management-consulting firms like McKinsey, Bain, and BCG — collectively known as the Big 3 — have been an important part of the business world by advising clients and offering strategies for growth.
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But the $200 billion consulting industry is facing a new threat: technology.
When it comes to information, expertise, insight and execution, technology is threatening to disrupt consulting firms' ability to offer services to clients at a high price tag.
The year 2020 has delivered surprises and shattered records at every turn — and the November elections could prove to be no different.
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Join Business Insider on Wednesday, October 21 at 2 p.m. ET and hear from three investment experts who will share their advice on how to navigate the election-season peak.
Business Insider's Joe Ciolli will speak with Thomas Lee, managing partner and head of research for Fundstrat Global Advisors; Nancy Davis, founder and managing partner of Quadratic Capital Management; and James McDonald, CEO and chief investment officer of Hercules Investments.
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